Private pension
Fund members of Festa pension fund can enter into an agreement for additional private pension savings. In addition, fund members can also allocate a quarter of the mandatory contribution to the specified private pension.
With private pension savings, the employee contributes 2-4% of the salary every month and receives an additional 2% contribution (pay increase) from the employer.
Specified private pension is a special type of private pension where a fund member can choose to allocate almost a quarter of the mandatory premium to a specified private pension. It is generally more suitable for those who are in the second half of their working life or who have earned sufficient entitlements to a lifelong retirement pension. The advantages of specified private pension are increased options for flexible retirement.
Q&A
- What is the difference between private pension savings and specified private pension?
- How are assets of private savings managed?
- Are private savings inheritable?
- How do I apply for the withdrawal of private savings?
